(Boursier.com) — Novavax plunged more than 20% in pre-session on Wall Street despite the announcement of the first profitable quarter in its history. The laboratory delivered only 31 million doses of its Covid-19 vaccine in the first quarter out of the two billion it plans to sell this year. Novavax, however, reiterated its 2022 revenue forecast of between $4 billion and $5 billion, saying it expects vaccine sales to accelerate in its key markets in the current quarter. “We expect to see further gains in these markets in the coming months as demand continues with recent Covid surges around the world,” Chief Commercial Officer John Trizino said.
In the first quarter, the firm posted a net profit of $203 million ($2.56 per share) against a loss of $223 million a year earlier for revenues of $704 million. The consensus was positioned higher with an anticipated EPS at $2.65 and expected revenue at $806.8 million.
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